Liquidity provision: The first program will reward liquidity providers on Polkaswap for the next 4 years. 2.5 million PSWAP will be allocated daily to liquidity providers on Polkaswap and after a vesting period, users will be able to claim them. To read the full article on the first incentive program, have a look here.
Buying XOR from the token bonding curve: The second program will reward buyers on the Token Bonding Curve (TBC). 2.5 Billion PSWAP will be provided as special bonus rewards when buying newly-minted XOR from the TBC. This will help create reserves in the Token Bonding Curve. When KSM and DOT are available on the SORA network (at full launch - later this year), double rewards will be given for them, as these two currencies are needed to secure parachain slots for the SORA ecosystem. In fact, they will be used to participate in the parachain auctions. You can read the full article about the second incentive program here.
Market making rebates: The third program is for market makers on Polkaswap. 400 million PSWAP (20,000,000 PSWAP per month) will be reserved proportionally for market makers that have at least 500 transactions with at least 1 XOR in each transaction. You can read the details here. A month lasts 432000 blocks and the incentive program started at the first block of SORA Network
If you want to check the harvested rewards and claim them have a look at this guide.
The rewards can't be claimed instantly, but there is a vesting period.
The vesting speed depends on the amount of PSWAP burned from Polkaswap usage fees. Farmed PSWAP are vested as Strategic Bonus Vesting, where the amount vested is a percentage of the daily amount of PSWAP burned in transaction fees, as shown in the figure below.
An example can be useful to clarify:
Let's suppose that currently, when 100 PSWAP are burned, 81 PSWAP are minted to reward Liquidity Providers (similar to 0.3% fees on Uniswap), 10 PSWAP are minted for the Parliament and 9 PSWAP are minted as a bonus reward. That means that 3 PSWAP (33%) are reserved as a strategic reward for Liquidity Provider, 3 PSWAP (33%) are reserved for buyers from TBC and 3 PSWAP (33%) are reserved for market makers.
Every user will receive proportionally to their vesting amount.
An important consequence of this design is that it assures that a sudden supply of tokens will not immediately flood the market and gives clear forward guidance about the supply of tokens in circulation, which is expected to remain constant.